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SNDA Protection For Commercial Tenants Upon Property Foreclosure | Obermayer Rebmann Maxwell & Hippel LLP

SNDA Protection For Commercial Tenants Upon Property Foreclosure | Obermayer Rebmann Maxwell & Hippel LLP
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After foreclosure, future of Montgomery Mall remains uncertain

In an era of radical online shopping, small business activism and extensive health precautions, another mall is on the brink. Earlier this month, Montgomery Mall, a Montgomery Township shopping center that encompasses more than 90 stores, was foreclosed upon. A judge issued a $118.78 million judgment against the mall’s owner, Simon Property Group’s Mall at Montgomery LP, on July 12, according to court documents. Wilmington Trust, a trustee of Wells Fargo Commercial Mortgage, filed the initial complaint for foreclosure June 8. The Montgomery County court’s final judgment on the case states that the mall owners agreed to the foreclosure and “subsequent foreclosure sale of the subject leasehold estate,” but when that sale may take place is not yet known.

Mall Crisis Continues As Trade Association Drops Shopping Centers From Its Name

Mall Crisis Continues As Trade Association Drops Shopping Centers From Its Name
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